The prices of vegetables like napa cabbage and radish have risen, leading to an analysis that this year’s kimchi-making costs are about 20% higher than last year. According to the Korea Price Research Institute on the 30th, the cost of making kimchi for a family of four, based on a price survey of 15 ingredients across traditional markets in 17 provinces and cities as of the previous day, amounted to 419,130 won, an increase of 19.6% from a year ago.
The main ingredients, napa cabbage and radish, saw their prices rise by more than 60% compared to last year, driving the overall cost increase. The retail price of napa cabbage averaged 7,050 won per head, which is 61.1% higher than a year ago. During the same period, the retail prices of radish and water parsley also increased by 65.9% and 94.5%, respectively.
The current strong vegetable prices are due to reduced production as the growth was stunted by heatwaves that continued through the previous month. On the other hand, the retail prices of green onions and ginger fell by 29.9% and 21.9%, respectively, compared to a year ago, and the price of red pepper powder decreased by 7.0%, due to stable domestic supply and increased import volumes.
Regionally, Sejong had the highest kimchi-making cost at 456,680 won among 17 provinces and cities, while Gangwon had the lowest at 385,760 won. Additionally, purchasing kimchi ingredients from large supermarkets for a family of four was found to cost approximately 521,440 won, about 100,000 won more expensive than buying from traditional markets.
This survey did not reflect government discount support. The government had previously announced measures to alleviate consumer burden during the kimchi-making season by supporting events to lower agricultural product prices by up to 40% and seafood prices by up to 50%, along with increasing the supply of kimchi ingredients.
However, the Price Research Institute anticipates that future kimchi-making costs may decrease as napa cabbage prices are showing signs of stabilization. The price of napa cabbage has fallen by 20% compared to two weeks ago. Kim Ki-il, head of the living prices team at the Price Research Institute, stated, “Although cabbage prices are still high, the supply for the kimchi-making season is expected to be sufficient due to the increased distribution of autumn cabbage,” adding, “The burden is expected to decrease somewhat after mid-next month, which is the peak kimchi-making season.”